Elevate Your Mobile Banking Strategy Now

To continually attract, retain and build a more loyal customer base and drive more incremental revenue, banks must remain focused on implementing the newest and most innovative mobile banking features that their customers truly desire.

By offering the right mix of features and functionality, banks will not only be able to keep pace with their customers’ ever-changing needs, but also repeatedly surpass their expectations, and gain the competitive edge they need to win in today’s mobile-activated world.

Ready to evolve your mobile banking strategy? Contact a First Data

representative or visit firstdata.com today.

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New, digitally-savvy customers want a more transparent, secure and efficient banking experience.

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App Innovation is a BIG Opportunity

By listening more closely to their customers’ real-world challenges and developing innovative mobile apps that truly solve their problems, banks will discover an effective means to differentiate themselves in the marketplace.

What mobile banking app features would be most beneficial in resolving transaction discrepancies?

Banks that can deliver innovations that their customers really need, can improve adoption rates, enhance loyalty, establish trust, increase revenue and reduce costs.

28%Providing further information on the transaction identified

(e.g. a map showing location, link to merchant's website etc.)

24%Having an instant messenger chat with my bank to report the transaction

(783 Respondents)

New, digitally-savvy customers want a more transparent, secure and efficient banking experience.

Phone My Bank

Investigate Transaction

Myself

Visit a Bank Branch

Email My Bank or Use

an Online Form

51%

25%11% 6%

The Age of Cyber Security

As cyber security breaches around the world continue to make headlines and consumers are becoming warier of cyber fraud, they continue to employ more traditional methods to mitigate risks, rather than taking full advantage of mobile technology.

What would you do if you spotted suspicious activity on your mobile banking app?

(783 Respondents)

Banks can help customers protect themselves with solutions that meet their functional and real-world security needs.

With respondents who would like the ability to see direct debits and would prefer to set up new payments using a mobile app, it’s clear that many customers are ready for more

apps and richer overall in-app functionality.

What would you like to use a mobile banking app for?

(783 Respondents)

62%Said they would like

the ability to see a list of direct debits

60%Said they would like the ability to set up a new payee / payment

Banks are missing opportunities to deliver the rich in-app functionality their customers crave.

(783 Respondents)

To Check My Account Balance

To View My Transaction History

To Transfer Money Between My Accounts

To Pay Someone I Know (e.g. transfer money to a friend or colleague's account)

To Pay Bills

89%

75%

61%

55%

38%

Recognising the Mobile Banking Marketplace

The most effective mobile banking strategy is one that best aligns with customers’ real-world needs. That’s why recognising how consumers are currently relying on mobile apps to conduct their banking vs. how they would prefer to use them is absolutely critical.

What do you use a mobile banking app for?

This number is surprising considering smartphones are fast becoming the UK’s number one device for browsing the internet and using social media.3

3 http://media.ofcom.org.uk/news/2015/cmr-uk-2015/

The age of the mobile-activated consumer has arrived—but banks have yet to take full advantage.

(2,049 Respondents)

Now is The Time to Respond to the Needs of Digitally-Savvy Customers

With apps that help us connect with friends, listen to music and find our way home, there’s no denying that the widespread adoption of mobile technology has triggered a fundamental shift in how we engage with one another, businesses and even banks.

But, how well are banks responding to consumers’ evolving preferences with mobile banking apps and features that can help banks effectively attract, retain and build a loyal base of customers in today’s rapidly evolving digital marketplace?

1 https://www.kpmg.com/UK/en/IssuesAndInsights/ArticlesPublications/

Documents/PDF/mobile-banking-report-2015.pdf

2 http://www.gsmamobileeconomy.com/

GSMA_Global_Mobile_Economy_Report_2015.pdf

Expansive Mobile Device Adoption Continues

Today more than half of the world’s population owns a mobile device.1 The number of mobile banking users is expected to increase exponentially doubling from 0.8bn users in 2014 to 1.8bn by 2018.2

Have you ever used a mobile banking app?

of respondents have never used a mobile

banking app

58%

New InsightsNew Opportunities in a Mobile-Activated World

First Data’s 2015 Mobile Banking Consumer Insights Study

Every day, as consumers have less and less time on their hands to manage their personal and professional lives, their reliance on mobile technology continues to grow at a rapid pace.

Whether they’re booking a holiday, shopping for the latest deals, or checking their available balance on the go, consumers today are demanding almost instantaneous engagement from their mobile devices.

Commissioned by First Data, this YouGov study shows how vital a customer-centric approach is to mobile banking, and illustrates just how ready mobile-activated consumers are to embrace new mobile banking innovations that can truly satisfy their desire for faster, more secure banking experiences than ever before.

Online surveys were distributed to 2,049 UK

adult consumers

Nearly half of respondents have used a mobile app to

conduct their banking

Surveys were conducted in September 2015

2,049 783 2015UK Respondents Respondents Have

Used a Mobile App September

2015